SUMMARY
Bitcoin (BTC) overnight price action is showing a pattern that is very similar to that of Ethereum (ETH). It's quite apparent that many holders of BTC are holders of ETH. Such is the reason of the "Uniformity of Sentiment". The Left Shoulder (LS), Head (H) and Right Shoulder (RS) are drawing out the potential for $14,100 (not labeled in chart below). That combined with the currently forming Ascending Right Triangle, the target could be $14,729. The MACD is also supporting the patterns as the 12 day average blue line crossed above the 26 day moving average red line. Let's see how the day time price action performs.
Legal Disclaimer: This is only my opinion, make of it what you wish. What does this mean? It means it's not advice nor recommendation to either buy or sell anything! It's only meant for use as informative or entertainment purposes.
Please consider reviewing these Tutorials on:
Elliott Wave Counting Tutorial #1
Elliott Wave Counting Tutorial #2
Elliott Wave Counting Tutorial #3
Laddering and Buy/Sell Setups.
Laddering Example with EOS
Tutorial on the use of Fibonacci & Elliott Waves
These Technical Analysis Books: Elliott Wave Priniciple & Technical Analysis of Stock Trends are highly recommended
@haejin's Trading Nuggets
Essay: Is Technical Analysis a Quantum Event?
Follow me on Twitter for Real Time Alerts!!
Follow me on StockTwits for UpDates!!
--
--
If this blog post has entertained or helped you to profit, please follow, upvote, resteem and/or consider buying me a beer:
BTC Wallet - 1HMFpq4tC7a2acpjD45hCT4WqPNHXcqpof
ETH Wallet - 0x1Ab87962dD59BBfFe33819772C950F0B38554030
LTC Wallet - LecCNCzkt4vjVq2i3bgYiebmr9GbYo6FQf
I jokingly said its a bull flag.... but maybe...
Bear in the woods?
Well price has closed strongly back into the expanding triangle pattern on the 4 hourly... so looks like you were right! Time to buy more bitcoin and other cryptos guys? I know I did anyway, just do your own research before you do!
It will hopefully climb back to 20k in next few months
This is encouraging. Many traders, I guess, are already cashing out their profit at this very minute. I have just seen a possible whale-induced price swing!
Update BitShares?
Mars!
and he only votes on himself!! not you ignorant followers!!
and he only votes on himself!! not you ignorant followers!!
and he only votes on himself!! not you ignorant followers!!
Go away.
great post! thanks
buy bitcoins right now since it si in dip this is opportunity don't miss it
I think bitcoin is dying.
https://steemit.com/steem/@mysearchisover/killer-steem-up-to-32
tienes mi ressteem estoy sorprendido por el alcance de tu post genial saludos excelente aporte.
this markets getting scary huh
good
very interesting.... thanks for the analysis !! keep it up boss!! try out the boss method... it works greatg for me
Let once this hit the target it will be a complete slap on the face of @kimjongpoo
so sick of his tag to every comment how to get rid of this damn auto flag here :(
Click on the name and hit the mute button
I didn't want to use that feature for the longest time. Very glad I have now!
Oh. That silence. 😁
Don't let me offend poo!
Mute him
and he only votes on himself!! not you ignorant followers!!
and he only votes on himself!! not you ignorant followers!!
and he only votes on himself!! not you ignorant followers!!
Congratulations @haejin, this post is the second most rewarded post (based on pending payouts) in the last 12 hours written by a Hero account holder (accounts that hold between 10 and 100 Mega Vests). The total number of posts by Hero account holders during this period was 393 and the total pending payments to posts in this category was $11497.99. To see the full list of highest paid posts across all accounts categories, click here.
If you do not wish to receive these messages in future, please reply stop to this comment.
Congratulations, your post received one of the top 10 most powerful upvotes in the last 12 hours. You received an upvote from @ranchorelaxo valued at 271.82 SBD, based on the pending payout at the time the data was extracted.
If you do not wish to receive these messages in future, reply with the word "stop".
Haven't withdrawn my investments on Bitcoin ever since I invested regaedless of its ups and down. I will withdraw when Bitcoin goes to 100 U$D
I think its way past $100.. you should check closer :-)
and he only votes on himself!! not you ignorant followers!!
and he only votes on himself!! not you ignorant followers!!
and he only votes on himself!! not you ignorant followers!!
second
and he only votes on himself!! not you ignorant followers!!
He basically told us that it’s either going up or going down! Great analysis!
Thank you.
and he only votes on himself!! not you ignorant followers!!
and he only votes on himself!! not you ignorant followers!!
Hey guys, I'm a newbie and I want to invest heavily on cryptocurrency. What do you think? I need some advice please
I always thank you for your technical analysis.
You have reason to argue
Has anyone got any tips with getting started on steemit? any help would be great :)
Good read!
Greay analysis!
I am not an expert on TA, but I have some knowledge of the game. However, my question is "can we really be sure that TA matters in this situation?".
I mean, the entire market seems to follow the general trend of BTC: when it goes green, almost every crypto goes up. I see this situation more as a matter of billions coming in and out. Also, being from Italy I notice that during the night, when Asia is awake, the price of BTC (and all other coins right now) tends to go down, which is most likely is due to the recent news about China and SK. This is why I believe the answer should be seeked in a more fundamental sense, rather than TA.
Just an opinion of course, I am curious to know what everybody thinks.
Its true !!
i will buy my crypto @miner76
Cheer up!! Thanks for your precious sharing!@
on a 1hour chart, that cannot be 12 and 26 daily moving averages which are based on the chart period... just saying.
Cool analysis though... Cryptos made a hard fall for the past weeks. Maybe its probably time for the big rise? Lets watch out though. The charges involved with bitcoins are too high and so many other things. Bitcoins might fall pretty hard. Who knows? Lets all watch out though. Remember,technical analysis is what you really need to know the next possible direction of a currency pair or a cryptocurrency
Thanks
How many bitcoin price in future?
post which is very useful for the readers. hopefully useful also for me and my writing forward.
Hello My Name is Eally Roy, I just upvoted and following you! I have found similar content that readers might be interested in:
https://steemit.com/news/@indiancrypto/south-korea-clarifies-position-on-crypto-regulation-amidst-confusion-in-mainstream-media
Any updates about Tron (TRX)??
Should Hold it or not?
good post, I like your post ..
I need your support please visit my blog https://steemit.com/@muliadi
if you like my post please give upvote, resteem &follow me.
thank you, keep on steemit
Your post is very amazing @haejin I am very impressed once please follow and upvote me @ irwansyah883
if you watch the charts on the top 25 crypto tokens you will see they have been moving in uniform a lot up until this evening. it's as if a Bot(s) are trading them all up and down because they all were bottoming within the same minute and then would all drop within the same minute. Very odd pattern if you watched it closly enough and for long enough.
Very educating
i really dont understand crytocurrency and blockhain, only bitcoin i now but not really . lol
https://steemit.com/bitcoin/@reactivator/the-study-shows-that-bitcoin-and-ethereum-is-very-centralized
BTC will take time to get stable . BTC has also affect the other altcoins
Seems like you made a good call here (at least for now). Nice work!
The two graphs look almost same. How is this kind of parallel movement possible in a free market? It's very weird.
whats up tigers is it going to crash soon ?
https://steemit.com/@cryptoctave
btc will come to 5k
I think bitcoin will reach 20.000 usd very soon !!!
Could some one please explain me the following:
wouldn't the target of 14,729 as wave 4 cross the end of wave 1 of C correction at 12,760 and invalidate the count?
To my knowledge the ascending right triangle in a bearish market would signal going down and not up.
source:
http://thepatternsite.com/EWTriangleAscending.html
http://stocata.org/ta_en/elliott6.html
genuinely trying to learn here, please help.
*Reversal pattern following a prolonged downtrend
thank you, much appreciated!
My interpretation of the trend is from where the we are entering the triangle. If from top to down, the trend would be bearish and if the entry is from bottom to top the trend would be bullish. This is just my interpretation but as clear i am just a noob.
Best of luck and again thank you for the time.
P.S: just saw your edit now. Thanks alot.
My comment is flagged..i am sorry but i am clearly looking for knowledge. shame on you people,shame on you
Yup have to agree the comment and honest question that links to an actual source of information is flagged!
for what?
Someone feeling the need for censorship of something?
Way too much of this BS on steemit
This is quite an interesting market period.
The Elliot waves for the last 5 count don't really sit well in form but the count can be shoe horned to fit.
We just about pricked the 150 day EMA for a bounce
Both technical boxes ticked but rather unconvincingly
At the same time this could very easily ve a wave 4 before the final drop to bottom.
and here we have a technical triangle which will likely make the decision before the price has to breach ~13k to prove the count invalid.
and he only votes on himself!! not you ignorant followers!!
